Cost of Living in Rancho Cordova, CA

An Overview of Cost of Living in Rancho Cordova, CA

Are you thinking about relocating, but curious about the potential cost of living in Rancho Cordova? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Rancho Cordova stands at 128, making it 28% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

The cost of living in Rancho Cordova is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, Rancho Cordova falls into this category, which may not be suitable for those seeking an economically favorable living environment.

Housing costs significantly influence the Rancho Cordova cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 65.2%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

Is Rancho Cordova Affordable?

Is Rancho Cordova affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Rancho Cordova, for instance, where the median home price falls 76.1% higher than the national average, and monthly rent rates are 39.8% higher than usual. Additionally, median income levels contribute to the equation, with Rancho Cordova flaunting a median household income of $69,963, 26.5% higher than the national norm.

What Factors can Influence the Cost of Living in Rancho Cordova?

Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Rancho Cordova, healthcare costs are 13.1% higher than the national average.

Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Rancho Cordova comes in at 14% higher than the national average.

Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Rancho Cordova, the transportation index stands at 20.8% higher than the national average.

Where is the Data From?

The cost of living in Rancho Cordova, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.